KB Home Coastal, Inc. Faithful Performance Bond 30142 0151422FAITHFUL PERFORMANGE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
fip,,ggEpment Code Section 66499. 1 )Backbone Streel FlaFPhase 2 Crarg Ave.
westem porlion ol Gart,ahi Rd
FOR: Streets and Drainage
Water System
Sewer System
Surety Berkley Reoional lnsurance Company
AddfeSS 505 N. Brand Blvd.. suite 1040
$
$
$
2147.000.00 TracVParcel Map
Bond No. 0151422
Premium $37.573.00
PfinciPal KB HoME coastal lnc'
AddfeSS 36310 lnland valley Drive
30142-1 Backbone
(
CityiState Glendale. CA CityiState Wldomar. CA
Zip code 91203 zip 92595
Phone s1s-s5G1403 Phone ssr-esr-szqs
WHEREAS, the City of Menifee, State of California,and KB HOME Coastal lnc
hereinafter designated as "principal") have entered into, or are about to enter into, the
attached agreement(s)whereby principal agrees to insiall and complete the above designated
public improvements relating to (TracUParcel)Tr 30142-1 Backbone which agreement(s) is/are
hereby referred to and made a part hereof; and,
WHEREAS, said principal is required under the terms of said agreement(s) to furnish bond(s)
for the faithful performance of said agreement(s);
NOW, THEREFORE, we the Principa I and Berldey Regional lnsurance Conrpany AS
su rety, are heid and firmly bou nd unto the City of Menifee in the penal su m of rwo llillion one Hundrecl
Forty Seven ThoLrsand and No/10G--- DOllafS ($ z,rz,ooooo ) lawful money of the U nited States, for the
payment of which sum will and truly be made, we bind ourselves, our heirs, successors,
executors and administrators, iointly and severally, firmly by these presents.
The condition of this obligation is such that if the above bonded principal, his or its heirs,
executors, administrators, successors or assigns, shall in all things stand to and abide by, and
well and truly keep and perform the covenants, conditions and provisions in the said
agreement and any alteration thereof made as therein provided, on his or their pad, to be kept
and performed at the time and in the manner therein specified, and in all respects according
to their true intent and meaning, and shall indemnify and save harmless the City of Menifee,
its officers, agents and employees, as therein stipulated, then this obligation shall become null
and void; otherwise, it shall remain in full force and effect.
As a part of the obligation secured hereby and in addition to the face amount specified
therefore, there shall be included costs and reasonable expenses and fees, including
reasonable attorney's fees, incurred by the City in successfully enforcing such obligation, all
to be taxed as costs and included in any judgment rendered.
FAITHFUL PERFORMANCE BOND
The surety hereby stipulates and agrees that no change, extension of time, alteration or
addition to the terms of this agreement or to the work to be performed there under or the
specifications accompanying the same shall in anywise affect its obligation on this bond, and
it does hereby waive notice of any such change, extension of time, alteration or addition.
Surety further stipulates and agrees that the provisions of Section 2845 of the Civil Code and
commencement of construction are not conditions precedent to surety's obligations hereunder
and are hereby waived by surety.
When the work covered by the agreement is complete, the City of Menifee will accept the
work and thereupon, the amount of the obligation of this bond is reduced by 9Oo/o with the
remaining 'l0olo held as security for the one-year maintenance period provided for in the
agreements(s).
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on August 6 2010
NAME OF pRlNClpAL: KB HoME coastar lnc
AUTHORTZED STGNATURE(S):
By:
amei h(cqAec . FeLe nA tJl JL
TftIE: V? LAPD+-LUA eD PuA rr / t atc-
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY:Regiollal I sulance ompany
AUTHORIZED SIGNATURE:
Attorney-in-Fact Title
Brenda Wong. Attomey-in-Fact
(lF coRPoRATrON, AFFTX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY-tN.FACT.
0
CALI FORNIA ALL.PURPOSE ACKNOWLEDGMENT
State of California
County of Riverside
On Auqust 10, 2010 before me, Richard R. Keller, Notary Public,
personally appeared Michael H. Freeman. Jr., who proved to me on the
basis of satisfactory evidence to be the person(s) whose name(s) is/a+e
subscribed to the within instrument and acknowledged to me that
he/sheAhey executed the same in his/he#thei+ authorized capacity(ies),
and that by his/he#the# signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the
instrument.
I certify under PENALTY OF PERJURY under the laws of the State of
California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
RICHARD R. KEI.I.ER
Commls€lon # l7l9l40
Nolory Publlc . Colllomlo
Rlver3lde County
lrtyComm. Ex;)lres Jon 21.2011
//,^_ l/_ /[k_
Richard R. Keller (sEAL)
I
s
t
CALI FORNIA ALL.PU RPOSE ACKNOWLEDGM ENT
State of California
County of Los Angeles
On Auqust 6. 2010 before me Tracv Aston , Notary Public, personally
appeared Brenda Wono. who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/the# authorized
capacity(ies), and that by his/her/their signature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s) acted,
executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of
California that the foregoing paragraph is true and correct.
WITNESS my hand and officialseal.
@
RACY ASION
Commtsston * t7 39959Nolory pubilc - CofiornlqIos Angeles
N,,^/Ccnrn. E}F)tea
Counly
[l,ry I5, 20] I
Tracy Aston
a%/&
tr-o.7951
POWER OF ATTORNEY
BERKLEY REGIONAL INSTIRANCE COMPANiY
wlLI,,INGTON. DELAwARE
NOTTCE: The waming lound elsewhere in this Power of Attorney aff€cts the validity thereof. Please review carefully.
K\O\\'ALL i\'tEN'- BY I'ttESE PRESEN'IS. drat BERKLEY ILEGION-AL NSURA\CE COMPANY (thc "Company"), a
corporation duly organized and existing under the laws of thc State of Dela*are, having its priucipal office in Urbandale, Iorva,
has rnade, constituted and appointed, and does by these prescnts make, constitute and appoint: Thomas S. Branigan, Ashraf
Elmtsry, Brenda Wong, Marina B. Tapis, Edward C. Spector, Noemi Quiroz or Simone Gerhsrd of Aon Risk Insuronce
Services West, Inc. of Los Angeles, C.{ its true and lawful Attomey-in-Fact, to sign its name as surety only as delineated below
and to execute, seal, acknowledge and deliver any and all bonds and undertakings, with the exception of Financial Guaranty
Insurance, providing that no single obligation shall exceed Fifty Million and 00/100 Dollars ($50,000,000.00), to the same extent
as if such bonds had been duly executed and acknowledged by the regularly elected officers ofthe Company at its principal ofhce
in their own proper persons.
This Power of Attomey shall be construed and enforced in accordance with, and govemed by, the laws of the State of Delaware,
without giying effect to the principles of conJlicts of laws ttrereof. This Power of Attomey is granted pursuant to the following
resolutions which were duly and validly adopted at a meeting ofthe Board ofDirectors ofthe Company held on August 21, 2000:
*RESOL!'ED, that the proper officers of the Company are hereby authorized to execute powerc of attomey authorizing and
qualifying the attomey-in-fact named therein to execute bonds, undertakings, recognizances, or other suetyship obligations
on behalf of the Company, and to affix the corporate seal of the Company to powers of attomey executed puBuant hereto;
and further
RESOLVED, that such power of attomey limits the acts of those named therein to the bonds, undertakings. recognizances,
or other suretyship obligations specifically named therein, and they have no authority to bind the Company except in the
fianner and to the extent therein stated; and further
Rf,SOLVED, that such power of attorney revokes all previous powers issued on behalf of the attomey-in-fact named; and
funher
RESOLVED, that the signature of any authorized officer and the seal of the Company may be affixed by facsirnile to any
power of attomey or certihcation thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or
other suretyship obligation of the Company; and such signature and seal when so used shall have the same force and effect as
though manually affixed. The Company may continue to use for the purposes herein stated the facsimile signature of any
person or persons who shall have been such officer or officers of the Company, notwithstanding the fact that they may have
ceased to be such at the time when such instruments shall be issued."
IN WTTNESS WHEREOF, the Conpany has caused these presents to be signed and attested by its appropriate officers and its
corporatc seal hcreunto affixed this lZ day of , 2010t".
Attest Berkle mpany
(Seal)By By
Ira S. Lederman Robert P. Cole
Senior Vice President & Secretary Senior Vice President
WARNING: THIS POWER INVALID IF NOT PRINTED ON BLUE "BERKLEY" SECURITY PAPER.
STATE OF CONNECTICUT )
COT NI'Y OF F'AIIIFIELD
Berkley Regional lnsurance Company
'Wm.
ss)
)
Sworn to before me, a Notary Public in the State ofConnecticut, this i? day of l.l .'- r- r ' "r. 2010. by Robert P. Cole and Ira
S. Lederman rvho are swom to me to be the Senior Vice President, and the Senior Vrce President and Secretary, respectively, of
S' KI LLE E
IRY PUBLIC
N EXFIFES JI]NF 3
E; LT
nI(Fi( .-Lz t.r /4tZ I tL,L
Notary Public, State ofConnecticut
CERTIFICATE
I, the undersigned, Assistant Secretary of BERKLEY REGIONAL INSURANCE COMPANY, DO HEREBY CERTIFY that the
foregoing is a true, corect and compl€te copy ofthe original Power of Attomey; that said Power of Attomey has not been revoked
or rescinded and that the aurhority of the Attomey-in-Fact set fofth therein
Power of Attomey is attached, is in full force arrd effect as ofthis dde.
Given under my hand and seal of the Company, this __ day of
, who execuied-the bond or undertaking to which this
AUG - 6 2010
CtulL.-<-(Seal)
Stcven Couard
:
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